Nvidia Technical: Holding at 183.30/177.70 key support ahead of earnings release

• Nvidia’s 16% pullback ahead of earnings has become the deepest correction in its medium-term uptrend, driven by valuation concerns, AI bubble fears, and notable investor exits (SoftBank and Peter Thiel’s Thiel Macro LLC).
• The sell-off has amplified downside pressure across U.S. equities, with the S&P 500 and Nasdaq 100 falling 5% and 7% respectively, underscoring Nvidia’s outsized influence as the largest weight in both indices and a central pillar of the AI-driven market rally.
• Despite the correction, Nvidia’s medium-term uptrend remains intact above the 183.30/177.70 support zone, and a break above 198.70 could reignite bullish momentum toward its all-time high, while a drop below 177.70 risks a larger multi-week correction.

Artificial intelligence (AI) juggernaut Nvidia will report its third-quarter earnings after the close of the U.S. session on Wednesday, 19 November 2025.

Read more: NVIDIA (NVDA) Q3 2025 Earnings Preview: Navigating the AI Stress Test

Since hitting a recent fresh all-time high of 212.19 on 29 October 2025, the share price of Nvidia has wobbled and staged a decline of 16% (high to low) to print an intraday low of 178.91 on 7 November 2025.

The latest 16% correction (high to low) in Nvidia marks its deepest drop since its current medium-term uptrend phase kick-started on 7 April 2025, on the backdrop of overvaluation and Artificial Intelligence (AI) bubble fears, coupled with prominent investors, SoftBank and Peter Thiel’s hedge fund, Thiel Macro LLC, that sold off their entire stakes in Nvidia ahead of today’s earnings release.

The souring sentiment around Nvidia has reinforced a bearish reflexivity loop across broader US equities, dragging the S&P 500 and Nasdaq 100 down roughly 5% and 7% from their late-October record highs.

As the largest constituent in both indices, holding weights of 7.5% in the S&P 500 and 14% in the Nasdaq 100. Nvidia’s weakness carries a disproportionate market impact. Over the past three years, the US equity rally has been powered largely by AI-driven optimism, making the current pullback particularly sensitive to shifts in Nvidia’s trajectory.

The fate of the US stock market is highly dependent on Nvidia’s earnings growth prospects. Hence, the ex-post earnings share price reaction of Nvidia will be pivotal for the US stock market.

Let’s now shift to Nvidia’s potential share price trajectory from a medium-term technical perspective, focusing on the next one to three months.

Watch the key medium-term pivotal support zone at 183.30/177.70 for Nvidia to maintain its current medium-term uptrend phase.

A clearance above 198.70 upside trigger level is likely to increase the odds of kicking off a new bullish impulsive up move sequence to retest the current all-time high of 212.19 before the next medium-term resistance at 224.50/227.00 (Fibonacci extension cluster).

• The recent decline seen at the start of this week has managed to find support at the lower boundary of an ascending channel in place since the 5 September 2025 low.
• The price action of Nvidia has formed a daily “small body” candlestick pattern on Tuesday, 18 November 2025, suggesting that downside momentum has eased.
• The daily Chaikin Money Flow indicator, a derivative of price and volume, has rebounded after it hit a 15-month low of -0.23 on 6 November 2025. Its current value is at -0.01 as it looks to reintegrate above the zero line. These observations suggest a potential revival of bullish momentum accompanied by a rise in volume.

A breakdown below 177.70 key support damages the medium-term uptrend phase of Nvidia to kickstart a multi-week to multi-month corrective decline sequence to expose 164.60 and the long-term pivotal support of 153.00 (also the 200-day moving average).